https://www.taxtmi.com/caselaws?id=449736 The ITAT Delhi allowed the assessee's appeal across multiple issues. The tribunal deleted additions for commission, brokerage and discount expenses, finding them unsustainable. Regarding Section 14A disallowance, the tribunal held that disallowance cannot exceed exempt dividend income of Rs. 6,97,835, directing deletion of excess disallowance beyond the assessee's suo motu amount of Rs. 7,30,000. ESOP expenditure was allowed as legitimate business expense for talent retention. The transfer pricing adjustment on standby letter of credit commission was deleted since no actual cost was borne by the assessee and bank charges were fully recovered from associated enterprises. en-us Fri, 16 Feb 2024 00:00:00 +0530 Mon, 19 Feb 2024 07:32:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449736 The ITAT Delhi allowed the assessee's appeal across multiple issues. The tribunal deleted additions for commission, brokerage and discount expenses, finding them unsustainable. Regarding Section 14A disallowance, the tribunal held that disallowance cannot exceed exempt dividend income of Rs. 6,97,835, directing deletion of excess disallowance beyond the assessee's suo motu amount of Rs. 7,30,000. ESOP expenditure was allowed as legitimate business expense for talent retention. The transfer pricing adjustment on standby letter of credit commission was deleted since no actual cost was borne by the assessee and bank charges were fully recovered from associated enterprises. Case-Laws Income Tax Fri, 16 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449736